Source: Sharecast
Paper-based packaging group Smurfit Westrock was down 5%, extending losses after a major announcement of capacity reductions and facility closures last week. Shares have now fallen more than 7% since the company said it was closing a coated recycled board in Minnesota and discontinuing production at a containerboard mill in Texas, and looking to shut down a further two sites in Germany.
Another jump in the price of gold was helping shares of precious metals miner Fresnillo higher, as bullion gained on dollar weakness ahead of this week's Fed decision. Gold futures on Comex were up 2.4% at $3,403.20 an ounce.
In contrast, mining peer Anglo American was falling sharply after Peabody Energy, which had agreed to buy its Australian steelmaking coal assets, noted "significant uncertainty around the transaction" following the recent stoppage at Anglo's Moranbah North mine following an explosion in March.
Retailers were putting in a solid performance, including Sainsbury, Tesco and B&Q owner Kingfisher, along with insurers Admiral, Beazley and Hiscox.
Marks & Spencer, however, was down another 4% as the company continues to pause online orders in the aftermath of last month's cyberattack. The stock has now lost more than 9% since a cyber incident first impacted operations on 22 April.
Primark Owner Associated British Foods also fell after confirming it was in talks on a potential sale of its Allied Bakeries unit with Hovis bread owner Endless. In a short statement, London-listed ABF said it was in discussions "regarding a potential transaction" involving Allied, maker of Kingsmill bread.
FTSE 100 - Risers
Fresnillo (FRES) 1,052.00p 3.65%
Sainsbury (J) (SBRY) 271.00p 2.89%
Diageo (DGE) 2,168.00p 2.26%
Admiral Group (ADM) 3,330.00p 2.21%
British American Tobacco (BATS) 3,293.00p 2.11%
Kingfisher (KGF) 293.90p 2.08%
Beazley (BEZ) 904.00p 1.97%
Babcock International Group (BAB) 857.50p 1.84%
United Utilities Group (UU.) 1,133.50p 1.66%
Hiscox Limited (DI) (HSX) 1,147.00p 1.59%
FTSE 100 - Fallers
Smurfit Westrock (DI) (SWR) 2,913.00p -5.21%
CRH (CDI) (CRH) 7,072.00p -4.17%
Marks & Spencer Group (MKS) 362.70p -4.00%
Standard Chartered (STAN) 1,063.00p -3.06%
Anglo American (AAL) 2,075.50p -2.83%
Mondi (MNDI) 1,113.00p -2.71%
Melrose Industries (MRO) 444.00p -2.61%
WPP (WPP) 575.80p -2.41%
Scottish Mortgage Inv Trust (SMT) 925.20p -2.03%
The Sage Group (SGE) 1,252.00p -1.84%
